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PIABA Foundation/PIABA: NEW FINRA Steps To Fix Flaws In Broker Misconduct âExpungementâ Process Wonât Work, Independent Investor Advocate Needed - 1,000+ Percent Increase In Expungement Awards: As SEC Heads To May 28th Review Of FINRA Rules, Third PIABA Foundation/PIABA Study Of Process Wiping Clean Broker Records Finds Major Problems Persist And New Steps Needed To Prevent âUnchallengedâ Expungements Date
18/05/2021
The “expungement” process in which brokers facing complaints from aggrieved investors are allowed to erase all evidence of misconduct is surging out of control and just underwent its third major review by the PIABA Foundation and the Public Investors Advocate Bar Association (PIABA). After analyzing 700 expungements from August 1, 2019 to October 31, 2020, the two groups concluded FINRA’s proposed rules headed for May 28